NEW DELHI: In a week which saw mass shift in funds from large caps to mid and smallcap, stocks from broader market stole the limelight with some of the names surging over 66 per cent in just five sessions.
Power, multiplexes, chemicals and industrial solution providers were among the best performers during the week while telecom stocks came under pressure due to a tough stance of the Supreme Court.
The best course of riding the broader market rally is going through professionally managed funds but if someone wants to go solo then picking the right set of stocks is very important.
“Noticeable traction in the broader space is offering ample opportunities to the traders. We reiterate our view to focus more on the selection of stocks and trade management citing overnight risk,” said Ajit Mishra, VP – Research, Religare Broking.
Here are 10 stocks that buzzed the most during the week:
Varroc Engineering: Shares of Varroc Engineering spiked 66.20 per cent to Rs 352.10 becoming the biggest gainer among BSE 500 stocks. The company during the week said ICRA removed the credit rating of the long-term debt papers of the company from ‘Rating Watch’ and reaffirmed at ‘[ICRA]AA- with negative outlook’.
Va Tech Wabag: Shares of the water treatment plant builder surged after the company said it will hold a meeting to raise funds via stake sale. The scrip bounced 60.66 per cent during the week to Rs 218.10. The company also informed investors during the week that Anil Chandanmal Singhvi, Additional Director in the category of Independent Director, resigned from his position with immediate effect.
NTPC: The power sector giant was among the top Sensex gainers during the week after better-than-expected quarterly earnings and decision to foray into renewable energy and distribution business. The stock jumped 19.85 per cent to Rs 105.95.
Zee Entertainment: Shares of the broadcaster gained 19.13 per cent to Rs 192.15 after the company reported its quarterly earnings. The company noted that it is seeing recovery in business that cheered investors.
Future Retail: Shares of Future Retail rose 18.44 per cent to Rs 122.35 amid buzz of takeover by Reliance Industries. Talks have been going on between both companies for a few weeks now and the deliberations are stuck on solving Kishore Biyani’s debt problems.
Inox Leisure, PVR: Shares of multiplexes surged after reports claimed the government will allow them to run in the next round of unlocking the economy. Inox Leisure gained 17.52 per cent to Rs 302.55 and PVR added 5.29 per cent to 1,308.80.
Jindal Steel and Power: Shares of the company rose 5.45 per cent to Rs 223.60 after the reports said the management was looking to unlock value by separating its power business.
Voda Idea, Bharti Airtel: Shares of telcos were among the top losers last week after the Supreme Court grew tough on the AGR issue. Voda Idea gained 4.48 per cent to Rs 8.53. Its peer Bharti Airtel slipped 1.68 per cent to Rs 520.